Creditors Win More Time To Review LandSource Plan

Law360, New York (May 20, 2009, 12:00 AM EDT) -- The judge overseeing the Chapter 11 proceedings of real estate developer LandSource Communities Development LLC has postponed a hearing to approve a disclosure statement for the second amended reorganization plan recently filed by Barclays Bank PLC, the debtor-in-possession financier for LandSource, after the creditors committee said it needed more time to review the document.

On May 20, Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware postponed a hearing scheduled for that day after the official committee of unsecured creditors filed...
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